NAFTA benefited Canadian consumers because:
a. of higher wages and more travel opportunity.
b. of lower wages but also lower taxes.
c. of lower prices but lower quality.
d. of lower prices and increased variety.
Answer: d. of lower prices and increased variety.
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A rapid increase in the price of oil will tend to
A) shift long-run aggregate supply to the left. B) shift aggregate demand to the right. C) shift long-run aggregate supply to the right. D) shift short-run aggregate supply to the left.
the government created a new tax credit to encourage businesses to build more factories
What will be an ideal response?
(Last Word) In a cap-and-trade program:
A. government fixes the price of pollution rights and firms choose how many permits to purchase. B. government fixes the maximum amount of a pollutant that firms can discharge and issues permits that firms can buy from and sell to each other. C. each firm is provided a fixed number of permits for a particular pollutant and no individual firm is allowed to acquire additional permits. D. firms can emit whatever type of pollutant they want, so long as the total tonnage does not exceed a government-established quantity.
Refer to the above table. The price of the product being produced by this resource:
a. Decreases as production increases b. Increases as production increases c. Cannot be discerned from the given data d. Is constant at all levels of production